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Garland Law Offices, P.A.
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Medicare and most health insurance don't cover hearing aids, but alternatives, including some over-the-counter devices, can be less expensive. Kiplinger’s recent article, “Medicare Doesn't Cover Hearing Aids but Retirees Have Options,” reminds us that hearing loss is so gradual, that you don't really recognize it until your hearing is impaired... Continue reading
Posted 1 hour ago at Garland Law Offices, P.A.
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“Paperwork, including a living will and health care power of attorney, can convey your treatment preferences, if you are ever unable to make medical decisions for yourself.” While you may believe you’ve covered your bases by completing an advance directive detailing your preferences for end-of-life care, that may not be... Continue reading
Posted yesterday at Garland Law Offices, P.A.
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“You should listen, do your homework, and remember whose money it is.” A 2016 Fidelity study found that 38% of parents say they don't talk to their adult children about retiring, because the conversation never comes up. Motley Fool says in its recent article, “3 Tips for Talking to Your... Continue reading
Posted 2 days ago at Garland Law Offices, P.A.
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“The recently passed “Tax Cuts and Jobs Act” (TCJA) contains a major change to the Federal estate tax laws – the doubling of the individual estate gift and GST tax exemptions to approximately $11.2 million (double this for couples).” The new tax law will greatly decreases the number of people... Continue reading
Posted 5 days ago at Garland Law Offices, P.A.
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“Appellees answered Appellant's petition by asserting that his claims had no legal or factual basis because the acts that he alleged, occurred prior to the execution of the family settlement agreement.” Judge John M. Bailey of the Court of Appeals of Texas recently wrote the opinion in the Court’s decision... Continue reading
Posted 6 days ago at Garland Law Offices, P.A.
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“The best approach to dealing with long-distance caregiving is to educate yourself and your family to prepare ahead of time.” It’s not uncommon for families and friends to be separated by many miles and even many time zones. Even so, at some point in their lives, parents, grandparents or a... Continue reading
Posted 7 days ago at Garland Law Offices, P.A.
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“The inheritance tax is determined by the relationship between the deceased and the beneficiary…” Let’s say that you and your spouse both have life insurance policies of $500,000 on each other and have no children. Each spouse is named as the primary beneficiary on the other's policies, and the contingent... Continue reading
Posted Apr 17, 2018 at Garland Law Offices, P.A.
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“Everyone needs a will, but, increasingly, estate planners say people could benefit from setting up a trust, while they are alive.” Creating a trust can help assure that assets are distributed more quickly, bills are paid promptly and continuously and personal information about property and other assets remains private. The... Continue reading
Posted Apr 16, 2018 at Garland Law Offices, P.A.
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“What do you think will be your biggest expense in retirement? Will it be the skyrocketing cost of healthcare and medical expenses? Will it be long-term care, your rent/mortgage, or food? It’s none of these!” Chances are that your biggest expense in retirement will be taxes. KSL.com discussed this issue... Continue reading
Posted Apr 13, 2018 at Garland Law Offices, P.A.
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“Under the new tax law, families with a 529 college-savings plan can now roll that money into a tax-friendly ABLE account to help a child with a disability.” The new tax law now permits money from a 529 plan to be rolled over into an ABLE account for children who... Continue reading
Posted Apr 12, 2018 at Garland Law Offices, P.A.
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“The Washington state Attorney General's office filed a consumer protection lawsuit Thursday against a company that promotes estate planning seminars in Washington.” Investigators at the Washington State Attorney General's office allege that so-called "free lunch" seminars were used to ultimately sell complicated investments and cash in on commissions. As KOMO... Continue reading
Posted Apr 11, 2018 at Garland Law Offices, P.A.
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“Since pensions can be inherited tax-free, people are increasingly looking to pass on their retirement funds to their spouses or children.” Pensions, unlike property, can be inherited tax-free. That means savers are increasingly looking to pass on their policies, according to Morningstar’s recent article, “Why Pensions are Vital to Estate... Continue reading
Posted Apr 10, 2018 at Garland Law Offices, P.A.
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“The gift from the estate of Dana C. Wood is the largest cash gift in the School of Engineering’s history.” The University of New Mexico School of Engineering received $3 million from the estate of an alumnus. The school said this gift will benefit students and faculty in the departments... Continue reading
Posted Apr 9, 2018 at Garland Law Offices, P.A.
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“At least three people claimed that they had a legal right to dispose of the body of cult leader Charles Manson. A court has now ruled in favor of Manson's purported grandson Jason Freeman.” NPR reported in the article “Charles Manson Grandson Wins Legal Battle Over Cult Leader's Body” that... Continue reading
Posted Apr 6, 2018 at Garland Law Offices, P.A.
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“Most people worry about costs like healthcare and taxes, but here are four potential retirement expenses you may not have thought about.” Despite your best efforts to prepare for retirement, you have a good chance of being blindsided by some unanticipated expenses. A recent study by the Employee Benefit Research... Continue reading
Posted Apr 5, 2018 at Garland Law Offices, P.A.
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“Neither of these provisions makes an attorney-in-fact liable for the alleged misuse of his or her principal's property solely by a third party (including by a separate agent over whom he or she has no express authority), or to affirmatively act to recover such property when stolen” In 2010, Bobbie... Continue reading
Posted Apr 4, 2018 at Garland Law Offices, P.A.
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“Let’s talk retirement and money.” Many of us in our late 50s and early 60s, start thinking about what retirement is looking like and often it’s not a rosy picture. Therefore, we scramble and hopefully increase our retirement savings. A reverse mortgage may serve as both a retirement tool and... Continue reading
Posted Apr 3, 2018 at Garland Law Offices, P.A.
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“Under ordinary circumstances, the Probate Code grants the personal representative the exclusive authority to bring civil actions—including a survival action—on behalf of an estate.” The South Carolina Supreme Court in Fisher v. Huckabee addressed who may bring a civil action on behalf of the estate of a deceased person, when... Continue reading
Posted Mar 30, 2018 at Garland Law Offices, P.A.
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“Small business owners pour years of blood, sweat and tears into building their entrepreneurial livelihood, first to provide for their lives and their families during the working years, and then later to transition as a retirement asset through sale or other succession planning.” As Southcoast Today reports in the recent... Continue reading
Posted Mar 30, 2018 at Garland Law Offices, P.A.
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“Single retirees may feel left out of the Social Security conversation, since it fixates on how married couples can make the most of their benefits. But it’s a mistake to assume that there are no claiming strategies to maximize benefits for solo retirees. The fact of the matter is that... Continue reading
Posted Mar 29, 2018 at Garland Law Offices, P.A.
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“Our society will be judged on how we treat our most vulnerable, including our children and our seniors.” A San Diego County program was announced to respond to elder and dependent adult abuse. It includes model practices and responses by law enforcement, prosecutors and others. To address an increase in... Continue reading
Posted Mar 28, 2018 at Garland Law Offices, P.A.
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“Own a business? Save more for retirement. Popular plans for the self-employed include the solo 401(k), the SEP IRA and a SIMPLE IRA.” Self-employed individuals can establish a “solo 401(k),” which is a special type of retirement plan for someone who’s self-employed or a business owner with no employees (other... Continue reading
Posted Mar 27, 2018 at Garland Law Offices, P.A.
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“Estate planning and knowing your beneficiaries are morbid things to think about, but it's still very important to do.” Are you certain that the beneficiaries you designated to receive your assets are up-to-date? Are your assets titled correctly, and has anything changed since the last time you reviewed them? As... Continue reading
Posted Mar 26, 2018 at Garland Law Offices, P.A.
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“If a beneficiary has a judgment or lien, it could be trouble for an inheritance.” Let’s say that a parent leaves her house to her three sons upon her death. The executor hires an attorney to have the deed retitled in the three sons' names, so they could take possession... Continue reading
Posted Mar 23, 2018 at Garland Law Offices, P.A.
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“Adult children don’t always know their parents are planning to have them as caregiver.” MarketWatch recently published the article entitled “Not expecting to be a caregiver? You’d better check that with your parents”, noting that the caregiving expectations between parents and their children can be misaligned, leading to disaster for... Continue reading
Posted Mar 22, 2018 at Garland Law Offices, P.A.